ECONOMY

In Brief

Minister quells fears of price rises due to euro BRUSSELS – Fears of unjustified price increases ahead of the introduction of the euro on January 1 have not been substantiated to date and there is no general anxiety as inflation remains at low levels, Economy and Finance Minister Nikos Christodoulakis said after the ECOFIN Council session yesterday. The general economic climate does not encourage upward price movements as this would affect the competitiveness of the firms that might attempt them, he said. Car sales on the downhill. Car sales fell for the third straight month in November, but at a slower pace, according to the Association of Car Importing Dealers. The number of cars sold declined 7.8 percent to 18,851 last month from 20,453 in October. In the two previous months, the respective rates of decline were 11 and 16 percent. In the 11 months, sales were 267,735, down 3 percent from the same period in 2000. Peugeot sold the most with 1,798 cars last month. – Cont. also with lesser inquiry and levels around W/S 97.5.